When Mish speculates on the increasingly-likely breakup of the European Union, he often says the continued failure to address the (obvious but politically inexpedient to mention) problems plaguing the union will cause a “disorderly breakup.” That’s a nice set of words to say, but perhaps it doesn’t convey the proper meaning of ‘disorderly’.
Disorderly breakup can mean that a bunch of bondholders lose all their money and an economy is thrown into depression for a few years or decades. It can also mean you end up with a local natural hole in the ground referred to as Dead Man’s Hole and a battle between people who just wanted to leave, and people who thought their side was just – called the Nueces Massacre.
It is arguable that the USA is on the same path to economic ruin as the EU. When people start talking about a “disorderly breakup” of the USA, remember: Don’t kid yourself and say “it can’t happen here.”
It already did.